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Queensbury, New York, US
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GM officially bankrupt
Mon, 01 Jun 2009GM finally enters Chapter 11 Bankruptcy The US Government is to provide £30 billion to fund the transition, with GM being split in to ‘Old GM’ and ‘New GM’. In exchange for the money the US Government will take a 60% stake in ‘New GM’ with all the toxic assets and liabilities being disposed of through ‘Old GM’. The restructuring will allow GM to survive on a third less sales than before (10 million instead of 15 million).
Ford unveils Everest SUV concept at China motor show
Mon, 28 Apr 2014While the Ford Motor Co. has no shortage of SUVs large and small in the U.S. market, here's a nameplate that you're probably unfamiliar with: Everest.
Chrysler, VW lead February sales gains
Thu, 01 Mar 2012U.S. auto sales led by Chrysler Group surged 16 percent in February, giving the industry its strongest showing in four years in a fresh sign that the recovery is gaining more traction. Total light vehicle sales rose to 1.15 million units as the seasonally adjusted sales annual rate hit 15.1 million.